Choosing the right structured settlement buyer can seem like a daunting task but if you know the right questions to ask and the important information to obtain, this process can be relatively painless.
While the highest quote from any potential buyer may look tempting, you need to be comfortable with the company and its reputation before choosing a buyer. Selling a structured settlement can be a complicated legal process; you need to know the company can be successful in obtaining your money. Don't be afraid to question anything that appears suspicious. If they can't answer questions to your satisfaction, then it might be time to look at other buyers. Remember it's your money!
Here is a list of questions to ask and items to know about any potential structured settlement buyer:
1) How long have they been in business?
2) Is their contact and business information verifiable?
3) Are they bonded or insured?
4) What is their underwriting criteria?
5) How is their Better Business Bureau rating?
6) Do they handle your type of structured settlement?
7) How many structured settlement purchases do they do a year?
8) Are they familiar with your local courts and state practices?
9) What is their success rate in obtaining structure settlement requests in your state?
10) How will they price your structured settlement?
11) What discount rate did they use in the quote?
12) Can they provide a time table for the process?
13) Do they use multiple financing sources for your quote?
14) Are they a principal or a broker?
15) Are they associated or member of a larger corporation?
16) Do they have a privacy policy?
17) Are they members of trade and professional organizations?
18) Are they professional in all communications and business presence?
